Renaissance Group LLC Has $10.02 Million Position in Golar LNG Limited (NASDAQ:GLNG)

Renaissance Group LLC cut its position in Golar LNG Limited (NASDAQ:GLNG - Free Report) by 20.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 236,678 shares of the shipping company's stock after selling 60,757 shares during the quarter. Renaissance Group LLC owned about 0.23% of Golar LNG worth $10,016,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in GLNG. Kingswood Wealth Advisors LLC grew its position in shares of Golar LNG by 5.0% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 10,500 shares of the shipping company's stock valued at $444,000 after acquiring an additional 500 shares during the period. Metis Global Partners LLC lifted its stake in Golar LNG by 9.8% in the 4th quarter. Metis Global Partners LLC now owns 5,996 shares of the shipping company's stock valued at $254,000 after purchasing an additional 534 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Golar LNG in the 3rd quarter valued at about $32,000. Merit Financial Group LLC grew its holdings in Golar LNG by 13.3% during the fourth quarter. Merit Financial Group LLC now owns 7,363 shares of the shipping company's stock worth $312,000 after purchasing an additional 866 shares during the period. Finally, Terril Brothers Inc. increased its position in Golar LNG by 8.6% during the fourth quarter. Terril Brothers Inc. now owns 11,400 shares of the shipping company's stock worth $482,000 after buying an additional 900 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

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Golar LNG Price Performance

GLNG traded up $3.88 during trading on Friday, hitting $37.27. The stock had a trading volume of 3,751,933 shares, compared to its average volume of 1,358,014. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of 266.23 and a beta of 0.47. The company has a 50 day moving average price of $37.14 and a 200-day moving average price of $38.77. Golar LNG Limited has a one year low of $24.21 and a one year high of $44.36.

Golar LNG Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.00 annualized dividend and a dividend yield of 2.68%. Golar LNG's dividend payout ratio (DPR) is presently 208.33%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Stifel Nicolaus raised their price objective on Golar LNG from $53.00 to $55.00 and gave the company a "buy" rating in a research report on Tuesday, December 24th. Fearnley Fonds raised Golar LNG from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. DNB Markets downgraded shares of Golar LNG from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Finally, StockNews.com raised shares of Golar LNG to a "sell" rating in a research report on Thursday, March 20th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Golar LNG has an average rating of "Moderate Buy" and an average target price of $50.13.

Golar LNG Company Profile

Golar LNG Limited designs, converts, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels or projects; transportation of LNG carriers; and vessel management activities.